Gyeongju City to Provide Special Support Fund of 100,000 Won to All Citizens

-Quick Public Welfare Administration with the City Council
-Separate from the Government's 5th Disaster Relief Fund... 100,000 Won Each for All Gyeongju Citizens

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gyeongju City, Gyeongbuk Province, has decided to provide 48.5 billion KRW in special COVID-19 support funds to alleviate fatigue from the prolonged pandemic and citizens' financial difficulties, as well as to revitalize the local economy.

On the 18th, Gyeongju Mayor Ju Nak-young and City Council Chairman Seo Ho-dae held a public briefing to announce the payment plans for the 'Government 5th Disaster Relief Fund' and the 'Gyeongju Citizens and Small Business Owners COVID-19 Special Support Fund.'

This disaster relief fund from Gyeongju City will be provided separately from the government's 5th disaster relief fund, which allocates 250,000 KRW per person for the bottom 88% income bracket and 350,000 KRW for low-income groups.

The special support fund will be financed through a supplementary budget by restructuring expenditure budgets, including cuts to unnecessary current expenses and event-related costs, as well as securing the largest-ever ordinary local allocation tax based on last year's fiscal demand analysis.

The 'Gyeongju Citizens COVID-19 Special Support Fund' will provide 100,000 KRW per person to approximately 252,000 citizens and about 9,800 registered foreigners. Including the government disaster relief fund, most citizens will receive between 350,000 KRW and 450,000 KRW per person.

The 'Small Business Owners COVID-19 Special Support Fund' totals 18.8 billion KRW, including △ 9.4 billion KRW for support to affected small business sectors △ 9.1 billion KRW for increased issuance of Gyeongju Pay △ 300 million KRW for the second round of small business card fee support.

Support for affected small business sectors includes 7.76 billion KRW distributed as 1 million KRW each to 776 businesses in sectors such as entertainment bars, bathhouses, and fitness centers that suffered losses due to gathering bans, and 156 special damage businesses such as lodging facilities affected by the cancellation of the 'Hwarangdae National Youth Soccer Tournament' scheduled for this month.

Additionally, 50 million KRW each will be provided to about 10,400 businesses in restricted operation sectors such as restaurants, cafes, karaoke rooms, PC rooms, and arcades, and 30 million KRW each to approximately 11,000 general businesses with annual sales under 400 million KRW, including general stores, mobile phone shops, and grocery stores.

To promote local consumption, additional issuance of Gyeongju Pay will be made.

With a budget of 9.1 billion KRW, an additional 91 billion KRW will be issued, expanding the total issuance this year to 139 billion KRW, including the existing 48 billion KRW.

Furthermore, 300 million KRW will be additionally provided for small business card fees.

The city plans to distribute the special support funds before Chuseok once the second supplementary budget is finalized.

The payment method will be via NongHyup prepaid cards for the 'Gyeongju Citizens COVID-19 Special Support Fund' and direct deposit into the accounts of eligible recipients for the 'Small Business Owners COVID-19 Special Support Fund.'

The city will form a 'Disaster Relief Fund Special Support Team' led by Vice Mayor Kim Ho-jin to ensure the funds are distributed quickly and accurately.

Mayor Ju Nak-young stated, "Deciding to provide support funds to all citizens despite the city's limited finances is to realize the greater cause of regional harmony and coexistence," and added, "We hope this special support fund will serve as a hopeful catalyst to comfort and encourage citizens facing difficulties."

This content was produced with the assistance of AI translation services.